It was supposed to reduce card fraud, but almost two years after chip and pin took over from signing in the UK's stores, criminals are still targeting credit and debit cards. A report in today's Guardian highlights the case of Alain Job, a Halifax customer who lost £2,100 to fraudsters who were able to clone his card and withdraw money.
Although the payments association Apacs says card fraud in this country has fallen 25% since the introduction of the system, figures it published last autumn suggest much of the fraud on UK-issued cards has just moved overseas, into countries where chip and pin technology has not yet been introduced. So was it worth the effort to introduce the new system? Do you feel safer? Or do you agree that it's a failure?
